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Join the Securities Litigation and Enforcement Group on LinkedInASIC announces record sentence in Xiao insider trading case | Compliance Week
The Australian Securities and Investments Commission announced that Hui Xiao, a former managing director of Hanlong Mining, was sentenced today to a total of 8 years and 3 months for insider trading — the longest sentence ever imposed in Australia for that crime. The Xiao case is a nice success story for ASIC, which has […]
SEC nominees to be vetted next week in Senate — Investment News
The Senate Banking Committee will hold a hearing Tuesday for Republican Hester Peirce and Democrat Lisa Fairfax, the nominees tapped by the White House in October to replace former SEC members Daniel Gallagher, a Republican, and Luis Aguilar, a Democrat. Their nominations were delayed while the committee chairman, Richard Shelby, R-Ala., ran in a primary, […]
SEC Charges Company and Executives for Faulty Evaluations of Internal Controls — SEC Press Release
The Securities and Exchange Commission has settled charges against Texas-based oil company Magnum Hunter Resources Corporation and several individuals, including a company consultant, for deficient evaluation of the company’s internal controls over financial reporting, and failures to maintain internal control over financial reporting between Dec. 31, 2011 and Sept. 30, 2013. via SEC Charges Company […]
New York law firms win Stanford fraud appeal, dismissal of lawsuit – Reuters
Reversing a lower court ruling, the 5th U.S. Circuit Court of Appeals in New Orleans said Chadbourne & Parke and Proskauer Rose were immune from liability for losses that 18,000 former Stanford investors blamed in part on Thomas Sjoblom, a lawyer who had represented the financier and worked at both firms. via New York law […]
Federal judge rules hedge fund lawsuit targeting Bharara can go on | Newsday
A Manhattan federal judge on Thursday green lighted a lawsuit by a hedge fund operator alleging that Manhattan U.S. Attorney Preet Bharara should be held liable for a misleading affidavit used in an insider trading probe that killed the fund. U.S. District Judge William Pauley said David Ganek of Level Global Investors, once a $4 […]
Securities Docket News Wire for March 10, 2016
Get caught up with the Securities Docket News Wire for March 10, 2016.